$XAU = Gold: Daily Analysis = 25.08.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

Precisely as forecasted in Premium Content, gold fell to the $1780-1790 area today and it allows us to make further projections of the waves and targets. The odds are bearish and let’s discuss the hypothesis.

CANDLES

Daily Candles
Today’s red candle confirmed the Spinning Top formed yesterday. The odds are bearish, however, are not strong enough for an immediate fall. There is a good chance that we could see a slow grind down. The candle tomorrow should be very telling.

As I type, we can see a strong move down. If gold closes tomorrow lower than $1778, a crash would be almost guaranteed. Anything above would require an evaluation.

Gold is badly damaged on the monthly and weekly frames and a lot of bullish events need to happen this week and before August 31. At this point I am skeptical about them.
Odds: Bearish

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One thought on “$XAU = Gold: Daily Analysis = 25.08.2021 #GOLD #preciousmetals $GDX $GLD #XAUUSD #GC_F #investing

  1. So the plan was changed.
    Before: We had a bullish daily candle, Gold price about 1820-1920.
    After: We had a bearish dailiy candle, so it will go to 178x.
    very difficult, while setting a trading plan.

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